CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
|
3 Months Ended |
May 31, 2020 |
May 31, 2019 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net earnings |
$ 1,931,100
|
$ 1,363,600
|
| Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: |
|
|
| Depreciation |
409,900
|
366,200
|
| Deferred income taxes |
91,200
|
(51,800)
|
| Provision for doubtful accounts |
67,800
|
103,500
|
| Provision for inventory valuation allowance |
80,000
|
117,300
|
| Share-based compensation expense |
169,000
|
166,300
|
| Changes in assets and liabilities: |
|
|
| Accounts receivable |
348,900
|
79,700
|
| Inventories, net |
3,080,800
|
(160,600)
|
| Prepaid expenses and other assets |
29,100
|
460,600
|
| Accounts payable |
1,385,200
|
(2,184,900)
|
| Accrued salaries and commissions, and other liabilities |
2,373,300
|
(957,900)
|
| Deferred revenues |
2,026,800
|
(576,700)
|
| Income taxes |
602,100
|
435,100
|
| Total adjustments |
10,664,100
|
(2,203,200)
|
| Net cash provided by (used in) operating activities |
12,595,200
|
(839,600)
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Purchases of property, plant and equipment |
(143,800)
|
(129,300)
|
| Net cash used in investing activities |
(143,800)
|
(129,300)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Payments of term debt |
(1,710,800)
|
(237,800)
|
| Proceeds from term debt |
1,447,400
|
0
|
| Cash received from sale of treasury stock |
71,000
|
122,400
|
| Cash used to purchase treasury stock |
(75,500)
|
(302,500)
|
| Dividends paid |
(417,400)
|
(410,100)
|
| Net cash used in financing activities |
(685,300)
|
(828,000)
|
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
11,766,100
|
(1,796,900)
|
| CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
2,999,400
|
3,199,300
|
| CASH AND CASH EQUIVALENTS - END OF PERIOD |
14,765,500
|
1,402,400
|
| SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION |
|
|
| Cash paid for interest |
184,600
|
232,000
|
| Cash paid for income taxes |
$ 19,500
|
$ 100,200
|